The Bank of Korea freezes the key interest rate at 3%

SEOUL, January 16, 2017 (WAM) – Today, Thursday, the Central Bank of Korea froze the key interest rate after reducing it twice in a row.

The Korean Yonhap News Agency reported that the bank’s monetary policy committee kept the key interest rate unchanged at 3%, during the interest rate setting meeting in Seoul.

The decision came in the wake of two interest rate cuts in the previous meetings in October and November, which represented the first consecutive interest rate cut since February 2009 when the country was suffering from the effects of the global financial crisis.

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